NCVER Submisson - Government funding of VET 2021

In 2021, government funding provided through VET appropriations and VET intergovernmental funding arrangements totalled $10.5 billion, an increase in nominal terms of $2.8 billion (37.0%) from 2020.

the Australian Government provided $6.3 billion, an increase of $2.5 billion (64.3%)

state and territory governments provided $4.2 billion, an increase of $379.9 million (9.9%).

In addition, the Australian Government provided:

$257.4 million for VET Student Loans, a decrease of $15.5 million (5.7%)

$199.7 million for Trade Support Loans, an increase of $0.4 million (0.2%).

Funding distributions

In 2021, VET funding distributed totalled $10.4 billion, an increase in nominal terms of $2.9 billion (38.6%) from 2020.

Expenditure across VET activities included:

$5.4 billion for direct VET delivery, an increase of $372.6 million (7.4%) from 2020

$3.7 billion for employer assistance to engage in VET, an increase of $2.3 billion (155.7%)

$125.5 million for student assistance for equipment, travel and other costs, an increase of $6.3 million (5.2%)

$469.5 million for capital investment, an increase of $145.8 million (45.1%)

$694.6 million for system administration and governance, an increase of $117.4 million (20.3%).